Lautenschlager gets green light from ECB to take place on board January 9, 2014 BUNDESBANK deputy president Sabine Lautenschlager was confirmed as the European Central Bank board’s next member yesterday, as the existing members expressed no objections to her appointment. A statement released by the bank called Lautenschlager “a person of recognised standing and professional experience in monetary or banking matter” who would be suitable for the open spot [...]
US growth cuts number of new jobless claims January 9, 2014 THE NUMBER of new claims for US unemployment benefits dipped last week, as the American labour market continues to strengthen. Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 330,000 in the week ending on 4 January, according to official statistics released yesterday. Economists had expected them to fall to just 335,000. The [...]
Former Kazakh banker set to be extradited January 9, 2014 A FORMER banker accused of embezzling up to $6bn (£3.6bn) from his employer should be extradited to Ukraine or Russia to face fraud charges, a French court ruled yesterday. Mukhtar Ablyazov, who was chairman of Kazakh bank BTA, had been in hiding since being sentenced to prison for contempt of court by an English judge [...]
Watchdog defends itself in row over role in Co-op Bank rescue January 9, 2014 THE CITY watchdog yesterday defended itself against a bondholder campaigner, who accused the Financial Conduct Authority (FCA) of misrepresenting its actions in the Co-op Bank rescue. The FCA’s Clive Adamson told MPs this week “the retail bondholders, in my view, got as best a deal as we could get for them.” Campaign leader Mark Taber said yesterday it [...]
Insurance could cost less in 2015 January 9, 2014 A NEW online system of DVLA records could see insurance premiums fall by around £15 per year, the industry is predicting. By mid-2015 all driving records will be held online and anyone will be able to access them. Currently motorists must submit their paper counter-part licence which holds details of speeding points and motoring offences. The [...]
Car firm Ford lifts dividend January 9, 2014 CAR MAKER Ford has hiked its quarterly dividend by 25 per cent, pushing its shares up nearly two per cent in New York yesterday. The firm reported $2.6bn profit before tax in the most recent reported quarter and chief financial officer Bob Shanks said the $0.125 payout would give shareholders “a regular, growing dividend that [...]
Terry Smith makes first profit at new firm January 9, 2014 FUNDSMITH, the investment funds group set up by veteran investor Terry Smith, has swung to its first profit since it was founded three years ago. Smith saw pre-tax profits rise to nearly £3m after a surge in revenues for the year ending March 2013, according to an annual filing of accounts at Companies House.
#MOL! Michael O’Leary takes to Twitter again January 9, 2014 THE ARTIST known as #MOL hit Twitter once more yesterday as Ryanair boss Michael O’Leary continued his charm offensive, answering customer questions and, er, wearing a red nose. The airline boss greeted his fans with his usual stinted text speak tweeting: “MOL here. H nu yr. Luv u all x x x Hope u as [...]
Mind the nap: Deloitte boss in sleeping selfie January 9, 2014 DELOITTE’S head of real estate Andy Rothery fell foul of the selfie craze just before Christmas when he unwittingly fell asleep on the train home. The City boss woke up from his slumber to find the girl next to him taking selfies of the two of them. His fellow commuter was happy to show him [...]
England turn to fresh faces as Six Nations work begins January 9, 2014 ENGLAND head coach Stuart Lancaster has challenged fly-halves Stephen Myler and George Ford to stake a claim for a place in next year’s World Cup squad following their inclusion in the 35-man party to prepare for the Six Nations. No10 Toby Flood’s international career is virtually over after Lancaster, who has a policy of not [...]
